Tim Murray of J Capital Research joins “The Chopping Block” to make the case that aspiring geothermal energy company and lithium producer Vulcan Energy Resources has set itself up to massively underdeliver on the promises they have made to investors. Murray highlights the dubious claims in Vulcan’s pre-feasibility study which he argues have no basis in reality as well as his belief that the clear conflicts of interest, namely that the companies producing that study were owned by various members of Vulcan management and eventually acquired by Vulcan, taint the results of this crucial factor in Vulcan’s current valuation. Murray also highlights management’s consistent track record of failing to bring similar projects to the finish line, the failure of almost anyone to bring similar projects to profitability in that region, and the consistent pattern of community opposition to those projects.
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